§ 6-9-74-8 — Resolution authorizing agreement that pledges amounts received toward payment of obligations of political subdivision; notice and hearing; covenant

(a) The county fiscal body may adopt a
resolution authorizing an agreement described in section 7(b) of this
chapter that pledges all or part of the amounts received from the tax
imposed under section 3 of this chapter toward the payment of
obligations of a political subdivision located in the county only after a
public hearing:
(1) for which notice has been given in accordance with IC 5-3-1;
and
(2) at which all interested parties are provided the opportunity to
be heard.
Upon adoption of a resolution under this subsection, the county fiscal
body shall publish notice of the adoption of the resolution in
accordance with IC 5-3-1. An action to contest the validity of the
resolution or agreement described in section 7(b) of this chapter must
be brought not later than thirty (30) days after notice of the adoption of
the resolution.
(b) With respect to obligations to which amounts received from a
tax imposed under section 3 of this chapter have been pledged in an
agreement described in section 7(b) of this chapter, the general
assembly covenants with the commission and the purchasers or owners
of the obligations that this chapter will not be repealed or amended in
any manner that will adversely affect the collection of the tax imposed
under section 3 of this chapter, or the money deposited in the fund
established under section 5 of this chapter, as long as the obligations
are unpaid.

Legislative History

As added by P.L.230-2025, SEC.123.